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Kenyan Shilling sheds against the US Dollar

BY · June 16, 2015 07:06 am

Secondary Market: Trading in the money remained subdued despite easing liquidity in the money market.
Bond turnover was recorded at KES 311.40 million from KES 540.7 million the previous day with only 11 bond deals transacted over the day. Investors displayed preference for intermediate term bonds.

Money Market: The monetary regulator was active in the money market at the start of the week, offering REPOs and TADs worth KES 8 billion as market analysis demonstrated easing liquidity in the market. The interbank rate settled at 10.02% with a slight rise in traded volumes.

Meanwhile, the Kenyan Shilling shed against the US Dollar (USD) for the first time in 5 days, by 0.01% to 97.24, as the week is estimated to produce more losses; supported by activity that is skewed towards an increase in foreign currency demand.

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